Craig Hallum Begins Coverage on Kodiak AI (NASDAQ:KDK)

Investment analysts at Craig Hallum started coverage on shares of Kodiak AI (NASDAQ:KDK) in a research note issued to investors on Monday. The brokerage set a “buy” rating and a $12.00 price target on the stock. Craig Hallum’s price objective suggests a potential upside of 95.44% from the stock’s previous close.

A number of other analysts have also weighed in on KDK. TD Cowen lowered their price objective on shares of Kodiak AI from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Citigroup lowered their price objective on shares of Kodiak AI from $13.50 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Wall Street Zen raised shares of Kodiak AI from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Chardan Capital lowered their price objective on shares of Kodiak AI from $22.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, Northland Securities set a $11.00 price objective on shares of Kodiak AI in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.50.

Kodiak AI Price Performance

NASDAQ:KDK opened at $6.14 on Monday. Kodiak AI has a 1-year low of $5.43 and a 1-year high of $11.48. The company has a 50-day moving average of $7.86 and a 200 day moving average of $8.35. The firm has a market cap of $1.13 billion, a PE ratio of -6.75 and a beta of 0.26.

Institutional Trading of Kodiak AI

Several hedge funds have recently modified their holdings of KDK. JPMorgan Chase & Co. purchased a new stake in shares of Kodiak AI during the third quarter valued at about $36,000. Parkside Financial Bank & Trust purchased a new stake in shares of Kodiak AI during the fourth quarter valued at about $44,000. Farther Finance Advisors LLC acquired a new position in shares of Kodiak AI during the fourth quarter valued at about $78,000. Cannon Global Investment Management LLC acquired a new position in shares of Kodiak AI during the first quarter valued at about $119,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Kodiak AI during the first quarter valued at about $125,000. 72.95% of the stock is owned by hedge funds and other institutional investors.

About Kodiak AI

We are a blank check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to as our initial business combination. Our only activities since inception have been organizational activities and those necessary to prepare for this offering. We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.